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Ecommerce giants like Amazon are becoming stronger, and ecommerce as a whole is experiencing growth at an unprecedented level.
However, there's one statistic that is slightly disconcerting for many retailers.
Imagine for a minute that the year is 1849.
A new resource has been discovered in the rolling hills of California, and some say it can make you rich.
Do you pack your bags and head west? Or do you pass on the opportunity and focus on your livelihood at home?
The way retailers choose to position their brand often justifies different price points.
These three brands are proof of that.
The world of ecommerce has come a long way the past couple of years.
We’ve assembled these quotations from various thought leaders and beyond to summarize tactics that have changed the way customers and businesses alike interact in the industry.
Most people enter the retailing business because of their love and knowledge of a particular product, or their notice of a gap in the value chain for that project.
A love of sports and fitness led to the creation of one of the largest companies in the world: Nike. But the climb to the top wasn't easy, for Nike's unique sneaker offerings was once a niche market.
Luckily, its merchandising abilities allowed it to become what it is today.
Hubba is about keeping all that product information in one place, where everyone can access it and where the data is fit for use in marketing and commerce.
I asked the team about their future. Here's what they had to say...
Ecommerce is simple. That’s the premise of this post, which follows on from ‘finding your best products’. The heart of ecommerce is finding your best products and your best customers, in the pursuit of most profit.
The old mail-order mantra of ‘recency, frequency and monetary value’ (RFM) is still useful here. Categorising your customers based on an RFM matrix is the start of identifying your hero customers, and those that need a little more attention.
These posts have been taken from a talk given by Mike Baxter, Econsultancy long-time friend and consultant (author of the Checkout Optimisation guide, amongst other things), at a recent breakfast briefing with Ometria.
Let’s see what Mike had to say…
Conversion optimisation is great, but to some extent it works on the premise that customers know what they’re looking for. Ok, checkouts, calls to action, merchandising should always be finessed, but optimisation is a means of squeezing more from specific intent.
But what if moving the customer towards the magpie psyche is the future of selling online?
A new ecommerce model is emerging and it works on the premise that customers can be encouraged to ‘bag at will’. All retailers need to do is surface rarer, quality products that are socially proven and most importantly look great.
The terms that customers type into your site search box represent a wealth of valuable data that can be used to learn about your users’ behaviour. They are essentially telling the retailer what they want in their own words.
This data can be used in a number of ways: to improve the site search functionality, to optimise results pages for common searches, and to improve merchandising.
Here, I look at 10 ways to improve merchandising with smart use of site search data, with thanks to some examples from SLI Systems.
Site search is critical to the success of your online business. And now that more people use mobile phones and tablets to surf the web and shop, you need to be sure you’re always delivering as short a path as possible to the “add to cart” button, without distracting them by too much extra information.
When it comes to search, install and forget no longer works. Delivering a great search experience requires constant attention – but the good news is your search data is a big help in this regard.
By examining site search data you can learn about your customers’ favourite products as well as the terms they use in your search box, their responses to promotional offers, and seasonal trends.
Internal site search is a core component of most e-commerce sites, but it's rarely optimised to its full extent.
Tools such as Fredhopper, Endeca and Adobe Omniture Merchandising can help enormously in this matter but there are certain generic tasks that anyone can perform to help optimise their internal search, no matter what tools you're using.
I'll concentrate on the retail sector, but these tips could be translated to other sectors too. Here are five tips to try:
The terms that customers type into your site search box represent a wealth of valuable data that can be used to learn about your users’ behaviour.
This data can be used to improve the site search functionality, to optimise results pages for common searches, improve merchandising and more.
I've been asking several e-commerce experts about how site search data can be used most effectively...